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$250 Million In Reduced Property Values Claimed In Portland

Posted by: Nate Berg

20 December 2006 - 10:00am

Claims worth more than $250 million have been filed in Portland, Oregon, where a law passed in 2004 allows property owners to file for compensation from the city when regulations reduce the value of their property.

"Measure 37, approved by voters in 2004, allowed landowners to file claims for compensation for decreased property value caused by regulations. The influx was prompted by a Dec. 4 deadline to claim past damages."

Property owners have file claims totaling more than $250 million. The majority of those filing claims are wealthy land owners.

"The claims undermine the city planning process and could 'change the face of the city,' said Chris Dearth, who heads the city’s Measure 37 program."

Full Story: Measure 37 hammers Portland
Source: The Portland Tribune, December 19, 2006
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These practices are also inequitable since they force non-drivers to subsidize parking costs, reduce travel options for non-drivers, and reduce housing affordability.
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